PunchTab released an insightful
white paper discussing the strong influence that Moms have on household purchases. According to the report, these decision makers influence an average of $2.4 trillion in spend every year. Did that catch your attention? It certainly caught ours. The white paper breaks down how engaging Moms is not only crucial to a brand's success but can also be cost efficient if done correctly. Here are some key takeaways from PunchTab's research:
- Where are they? 91% of Moms use social media, spending twice as much time online as the general population and 84% go online when looking for recommendations on products or brands.
- What influences them? More than 50% indicate that their purchasing decisions are influenced by other Moms who use, promote and engage with certain products. 81% indicate that they buy/leverage more if rewarded with loyalty points. Speaking of loyalty...
- A new way to leverage loyalty programs. The phrase "omni-channel umbrella loyalty program" was a popular concept throughout the report. This program encompasses the opportunity for loyal customers to earn points AND the opportunity to explore other products or brands under the parent company's umbrella. This type of program was preferred by 75% of Moms.
- Rewarding the M-O-M. When asked to choose from a variety of rewards, 80% of Moms chose financial rewards as most desirable. Being a gift card company we can't help but point out that 82% preferred gift cards from popular retailers as a reward, beating out discounts or coupons for future purchases.
In summary, a new focus may be getting placed on Moms when re-evaluating loyalty programs this year. Not only do they seem to be making the majority of the purchasing decisions in their own household, they are also the leading influencers among other Moms as well. Check out more from PunchTab's report,
Scoring Points with Mom, The secret for engaging Moms to try, buy and share